Apple Inc. is working on a server semiconductor "specially designed for artificial intelligence," the Information reported on Wednesday citing three people with direct knowledge of the matter. The tech giant is cooperating with Broadcom Inc. on the chip's networking technology.

According to the report, the chip could be ready for production by 2026, although Apple only intends to use it internally. However, while the initial design is scheduled to be completed in 12 months, revision and testing could take another year, sources said.